Economic Crime

Part of Attorney General – in the House of Commons at 12:00 am on 21st July 2016.

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Photo of Jeremy Wright Jeremy Wright The Attorney-General 12:00 am, 21st July 2016

The hon. Gentleman is right to urge caution, but what we are proposing does not go anywhere near as far as he is suggesting. The types of offences under discussion are failures by corporate entities to prevent fraud, money laundering and the like. As he will know, there are already similar types of offences on the statute book in relation to bribery, and there will shortly be some in relation to tax evasion. This is an extension of a logical principle and it is designed to ensure that we are able to catch not just those in smaller businesses who are engaged in this kind of behaviour, but those in larger business too.